Excellent letter, and well made points about dilution.
I contacted the directors 8 months ago when the share price was languishing at $6.00 and urged them to conduct an on market buyback as the shares offered compelling value. I also urged them to be much more transparent about the WICET debacle as newspaper articles were regularly appearing while the company was silent.
The company's response was prompt, but it didn't leave me with much optimism about a buyback. The CEO indicated "the company regularly reviews capital management initiatives". My personal opinion is that the company has been investigating acquisitions and been happy maintaining the cash balance
I still feel the WICET issue remains a concern, and eagerly await a resulution to dispel uncertainty associated with the company.
open letter to chairman of the board, page-3
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Last
$12.38 |
Change
-0.020(0.16%) |
Mkt cap ! $1.218B | |||
| Open | High | Low | Value | Volume |
| $12.30 | $12.54 | $12.26 | $2.742M | 221.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 656 | $12.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.39 | 490 | 1 |
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| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| MND (ASX) Chart |